So if the worst happens, then what?

Zynks

So there is talk of Greece defaulting, the UK going to the IMF before the Olympic games, countries either at the top or low end of the Euro dropping out and reverting to their old currency, gold taking off like a rocket, equity markets going into meltdown 3.0, NAMA exposure possibly becoming part of the official national debt (just a technicallity! :rolleyes:),

All sorts of theories are out, and many seem to be good guesses.

I am not trying to speculate on individual theories, but I would like to look into how would things look like if the worst came into effect, with economies going into meltdown, insufficient economic activity to fund welfare and debt, and so on. How would life look for the 'average joe bloggs' ?

Thinking about how things could turn out, I can't avoid thinking of some hopefully extreme scenarios:

- countries heading into anarchy,
- look-after-yourself-cause-nobody-else-will type societies,
- black economy becoming prevalent
- severe inflation or deflation periods wiping what's left of people's savings, pensions and other reserves
- Widespread defaults by individuals, companies and countries

Or, if some countries (Greece, Ireland, UK, Portugal, US) only hit rock bottom:

- debt burden becoming too high for the economy
- huge increases in taxation
- Significant emigration
- Poverty growth

So, family man 'joe bloggs', married, two children, big mortgage, good job lost but on a low paid one now, unable to pay, unable to sell home... how is life likely to be for him and his family? What are the alternatives? I know there are already many people that fit this description, but they are not the majority (yet).

Note: I am hesitating posting at this point. I wonder what would be the benefit in such discussion. Maybe this awareness is necessary so we become more aware of the risks we are dealing with when the next elections arrive. As a post I read today said, "People here usually vote for Santa not Scrooge, no matter that Santa is paying for the sleigh with credit cards and may have his credit lines abruptly cut! ". The problem is that we can't afford any more credit card fuelled Santas!

toughbuttfair

Don't go to Limerick.

Stinicker

Zynks wrote: »

So there is talk of Greece defaulting, the UK going to the IMF before the Olympic games, countries either at the top or low end of the Euro dropping out and reverting to their old currency, gold taking off like a rocket, equity markets going into meltdown 3.0, NAMA exposure possibly becoming part of the official national debt (just a technicallity! :rolleyes:),

All sorts of theories are out, and many seem to be good guesses.

I am not trying to speculate on individual theories, but I would like to look into how would things look like if the worst came into effect, with economies going into meltdown, insufficient economic activity to fund welfare and debt, and so on. How would life look for the 'average joe bloggs' ?

Thinking about how things could turn out, I can't avoid thinking of some hopefully extreme scenarios:

- countries heading into anarchy,
- look-after-yourself-cause-nobody-else-will type societies,
- black economy becoming prevalent
- severe inflation or deflation periods wiping what's left of people's savings, pensions and other reserves
- Widespread defaults by individuals, companies and countries

Or, if some countries (Greece, Ireland, UK, Portugal, US) only hit rock bottom:

- debt burden becoming too high for the economy
- huge increases in taxation
- Significant emigration
- Poverty growth

So, family man 'joe bloggs', married, two children, big mortgage, good job lost but on a low paid one now, unable to pay, unable to sell home... how is life likely to be for him and his family? What are the alternatives? I know there are already many people that fit this description, but they are not the majority (yet).

Note: I am hesitating posting at this point. I wonder what would be the benefit in such discussion. Maybe this awareness is necessary so we become more aware of the risks we are dealing with when the next elections arrive. As a post I read today said, "People here usually vote for Santa not Scrooge, no matter that Santa is paying for the sleigh with credit cards and may have his credit lines abruptly cut! ". The problem is that we can't afford any more credit card fuelled Santas!

What you have written is not really speculation but fact and it is a matter of when and not if. 2012 will be a key year when Barack Obama will be removed from office and Sarah Palin will sweep to power with a massive majority last seen by Reagan.

The United States economy will begin to collapse and with Oil Shocks the scene will be poised for the Third World War. The United States will invade the middle east and occupy Saudi Arabia and China fearful for its supply of Oil will try to ally itself with the Saudis.

America and China will fight a war in the middle east and ultimatley the European will have to come to the Americans aid and blanket bomb the Chinese with Nuclear Bombs. The following three decades will see a massive boom rebuilding the middle east and whats left of China, Europe and the United States will sink further into decay.

nesf

Look at the Great Depression if you want to get an idea of what the bad times can mean.

cson

Stinicker wrote: »

What you have written is not really speculation but fact and it is a matter of when and not if. 2012 will be a key year when Barack Obama will be removed from office and Sarah Palin will sweep to power with a massive majority last seen by Reagan.

The United States economy will begin to collapse and with Oil Shocks the scene will be poised for the Third World War. The United States will invade the middle east and occupy Saudi Arabia and China fearful for its supply of Oil will try to ally itself with the Saudis.

America and China will fight a war in the middle east and ultimatley the European will have to come to the Americans aid and blanket bomb the Chinese with Nuclear Bombs. The following three decades will see a massive boom rebuilding the middle east and whats left of China, Europe and the United States will sink further into decay.

Cheers for that, you've given me quite the chuckle on a slow day.

Edit: Is that you Jim Corr?

20Cent

Stinicker wrote: »

What you have written is not really speculation but fact and it is a matter of when and not if. 2012 will be a key year when Barack Obama will be removed from office and Sarah Palin will sweep to power with a massive majority last seen by Reagan.

The United States economy will begin to collapse and with Oil Shocks the scene will be poised for the Third World War. The United States will invade the middle east and occupy Saudi Arabia and China fearful for its supply of Oil will try to ally itself with the Saudis.

America and China will fight a war in the middle east and ultimatley the European will have to come to the Americans aid and blanket bomb the Chinese with Nuclear Bombs. The following three decades will see a massive boom rebuilding the middle east and whats left of China, Europe and the United States will sink further into decay.

A glass half empty type are you?

I see a Mad Max type of society myself.

Stinicker

Stinicker wrote: »

What you have written is not really speculation but fact and it is a matter of when and not if. 2012 will be a key year when Barack Obama will be removed from office and Sarah Palin will sweep to power with a massive majority last seen by Reagan.

The United States economy will begin to collapse and with Oil Shocks the scene will be poised for the Third World War. The United States will invade the middle east and occupy Saudi Arabia and China fearful for its supply of Oil will try to ally itself with the Saudis.

America and China will fight a war in the middle east and ultimatley the European will have to come to the Americans aid and blanket bomb the Chinese with Nuclear Bombs. The following three decades will see a massive boom rebuilding the middle east and whats left of China, Europe and the United States will sink further into decay.

I would totally read that book/watch that film!

I see a Mad Max type of society myself.

lol!

Pete M.

Bring it on I say.
Tips gleaned from how to survive the zombie apocalypse will come in handy at last.
At last the 'Fall of Rome', end of days etc., glad I'm here to witness the fall of our ultra rapacious society.
We sure did do the seven deadly sins real well and I ain't even religious.
My only fear is that things won't change and we'll carry on, ripping each other off and profiting from the misfortunes of others.

Flamed Diving

You will start thinking about life in terms of nutrition, instead of income.

The_Thing

I see a Mad Max type of society myself.

I'd love to see Europe plunged once again into the Dark Ages with the black plague spreading like wildfire across the land.

rubensni

If we default we'd still use the Euro, we just would have no say how the thing is run and no cash from the ECB. Interest rates would go up and the government would probably have to go, beyond that we'd just have to dust ourselves off, and get used to being a lot poorer.

Pete M.

rubensni wrote: »

... and the goverment would probabay have to go.

:pac::pac::pac:

probably?!

I would say that they have to go now as it is.

In the extreme events outlined by the OP, the concept of government itself would be fairly likely to go

Spudmonkey

toughbuttfair wrote: »

Don't go to Limerick.

Was there an attempt at humour in there somewhere?

dunsandin

We'll all have to join the Mafia, are they hiring at the moment?

Stinicker

dunsandin wrote: »

We'll all have to join the Mafia, are they hiring at the moment?

I beleive Fianna Fail are always recruiting new fools members.

fontanalis

Stinicker wrote: »

What you have written is not really speculation but fact and it is a matter of when and not if. 2012 will be a key year when Barack Obama will be removed from office and Sarah Palin will sweep to power with a massive majority last seen by Reagan.

The United States economy will begin to collapse and with Oil Shocks the scene will be poised for the Third World War. The United States will invade the middle east and occupy Saudi Arabia and China fearful for its supply of Oil will try to ally itself with the Saudis.

America and China will fight a war in the middle east and ultimatley the European will have to come to the Americans aid and blanket bomb the Chinese with Nuclear Bombs. The following three decades will see a massive boom rebuilding the middle east and whats left of China, Europe and the United States will sink further into decay.

Sarah Palin voted as President, I'll eat two pound of your shyte if that happens. As for the rest, well . . .

Mutz

dunsandin wrote: »

We'll all have to join the Mafia, are they hiring at the moment?

The Don is dead so a replacement is needed I guess! :pac:

stepbar

I guess all this wasn't unforseen truth be told. It was destined to happen.

Seth Brundle

Zynks wrote: »

So if the worst happens, then what?

"WE'RE ALL GOING TO DIE"

20Cent wrote: »

I see a Mad Max type of society myself.

We'll the weather would be nice!

dunsandin

Mutz wrote: »

The Don is dead so a replacement is needed I guess! :pac:

Who is/was the Don Mutz, im probably being a bit slow here. But agree that FF is the real deal - "say hello to my little friend"..... his name is willie, willie o deal, the real thing.